Swan Corporation incurred the following expenditures in connection with the development of a new product:...
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Accounting
Swan Corporation incurred the following expenditures in connection with the development of a new product:
|Salaries |$40,000
|Materials|8,000
|Advertising|3,000
|Market survey |2,000
If Swan Corporation elects to expense research and experimental expenditures, determine the amount of the deduction for research and experimental expenditures.
a. $40,000.
b. $48,000.
c. $50,000.
d. $51,000.
e. $53,000.
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